NEW DELHI—Prime Minister Narendra Modi today pitched for making India a 'human resource capital' of the world like China has become a 'manufacturing factory' as he launched a number of schemes to train 40 crore people in various skills by 2022 as part of "war against poverty".

Here's what the Prime Minister said at the launch of Skill India.

He said India has the potential to provide a workforce of about 4 to 5 crore to the world if the capabilities of the countrymen are honed through proper and dynamic training in skills and added that the government is focussed on this aspect.

*Noting that the world and technology is changing fast, he said, "We need to have futuristic vision and prepare plans for the next 10 years" and advocated the need for regular interaction between industry and technology experts.

*"If China is recognised as a 'manufacturing factory' of the world, India can become the 'human resource capital' of the world. That should be our target and we should lay emphasis on our strengths," Modi said addressing an event here to launch the schemes in the presence of several union ministers and Chief Ministers of various states.

*Observing that there are several developed nations which have wealth but not human resources, he said India, in the near future, will be the only country that can cater to this requirement if proper skills are developed here.

The ambitious schemes launched by the Prime Minister were National Skill Development Mission, the National Policy for Skill Development and Entrepreneurship 2015, Pradhan Mantri Kaushal Vikas Yojana and Skill Loan scheme on the World Youth Skill Day.

As part of the schemes, the government has set itself a target of skilling 40.02 crore people by 2022.

Under the Skill Loan scheme, credit ranging from Rs 5,000-1.5 lakh will be given to 34 lakh youth over five years.

*"Through a policy-driven approach we have waged a war against poverty and we have to win this war. We have to form an army from among the poor. Every poor is my soldier. With their potential, we have to win this war," he said.

"People of India have huge capabilities and this has been recognised the worldover since centuries. We have forgotten the skills. We have to regain those," he said, adding the training institutes in India need to be dynamic.

*Asserting that there is no reason for unemployment and poverty in the country, he said "the foremost priority of the government is to create jobs. For this, we have to create proper structures and this mission is an effort in that direction."

*He said while the Indian IITs made a name for themselves globally in the last century, it is the turn of ITIs (Industrial Training Institutes) to do the same this century.

The event saw a large turnout of Union ministers including finance minister Arun Jaitley and defence minister Manohar Parrikar as well as chief ministers. Foreign dignitaries and senior industry leaders were among the invitees.